02:17 PM EDT, 03/16/2026 (MT Newswires) -- IB Acquisition ( IBAC ) and GNQ Insilico said Monday they have entered a definitive business combination agreement where IB will acquire the issued and outstanding shares of GNQ for $500 million through a statutory plan of arrangement under the Canada Business Corporations Act.

GNQ shareholders can earn additional consideration through revenue earnout and share price earnout provisions.

After the transaction closes, which is projected in Q3, the combined company expects to be publicly listed on Nasdaq. Shares will trade under the symbol "IBAC" until the closing of the transaction.

The boards of GNQ and IB have approved the business combination. The transaction requires approval by the stockholders of both companies as well as the Ontario Superior Court of Justice. GNQ shareholders holding a majority of shares have agreed to support the transaction, according to the companies.

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